Madrid, March 27 (NNN-MAP) Spanish real estate group Fadesa will invest 597 million USD to build a 5,000-unit residential complex by the beach at Playa Blanca along Morocco’s Atlantic coast, the company announced here Monday.

Fadesa said the new complex would comprise 1,338 apartments, 865 villas, 1,850 houses and 980 villas for tourists, eight four and five-star hotels, an 18-hole golf course, a shopping mall and other leisure facilities.

The new resort, to be operational within eight years, will create some 13,000 job opportunities, the company said.

The FADESA group, which was acquired by Grupo Martinsa, started operating in Morocco in 2000 by building a resort in Rabat and another one in Agadir in south-west Morocco.

The group also built a five-star hotel in Casablanca and is revamping the Tangier City Centre, a beach resort in Saidia, 500 km northeast of Rabat, and a high-standard tourism complex in Marrakech at a total investment of 3.9 billion USD.

Submitted by Tarique – www.indianmuslims.info

Morocco Real Estate – Immobilier Maroc